The “Why” Of Staging Luxury Real Estate

When selling luxury real estate or investment properties, timing is of the essence. Market trends and peak seasons play a significant role in purchasing habits and pricing. Also, likely coming into play are the buyer's personal needs and desires to seek substantial savings wherever possible. Agents navigate the market by keeping an eye on trends, prices, and purchasing behaviors to give their clients a competitive edge, leading to significant purchasing advantages and incentives.

Whether it's for a $500,000 West End condo or a $3 million-plus Williamsburg mansion, “hiring an interior designer to furnish temporarily, or stage, a property before it's listed is a necessary expense in today's real estate market”, according to market expert Barbara Corcoran.

That's because staging is what tells the property's story and wordlessly conveys information about the lifestyle a buyer could have if he or she lived there. For today's buyer, It's not enough to walk into a beautiful home and see the rooms. Buyers want to know how they're going to live in that staging does just that, and gives the buyer a way to fall in love with the property.

When staging a luxury property ultra-luxury price points, the design process can be significantly different, from the initial pitch to the price to the choice of furnishings and artwork is significantly different than moderate and midrange price points. While an initial meeting with a seller or developer for a more modestly priced property might involve a quick walk-through of the space and conversation about who the potential buyer is, at the luxury level, the start of the process is more tailored. The key is to strike a balance between designing a space that is unique and memorable without going too far and making it more about the interior design than the house. Our goal at Jsquared is to always highlight a home's beautiful assets without overpowering it with the styling. You want to have a wide enough appeal so that you can enthrall as many people as possible

While the cost of working with Jsquared to fully furnish a luxury property is much higher, That's because we design our luxury homes to feel like a luxury model. The Jsquared team utilizes high-end furnishings to create unique model homes, in which all the furnishings can be part of the sale. When someone walks in, they fall in love with the quality of what we deliver, and all they have to do is move their dishes and sheets and move in.

About 80% of the upholstered, mostly white furniture, which is elegant, but also fades into the background so that the focus remains on the fixed assets.

While some stagers prefer to hang recognizable artwork on the walls, Jsquared prefers to outsource custom abstract artwork for luxury staging projects by local artist Diane Williams owner of Art to Di for.

We don't use massively expensive art pieces in our staging projects because we don't want to distract from the home's features, or the sale, Instead, these custom works fade into the background a bit, but are the correct size, and appealing so that potential buyers can imagine their collection on the walls. The artist who creates them can also create a mural on the wall or ceiling based on the finish seen in the artwork. The result is to have our buyers picture their Kandinski or Warhol hanging on the wall, if they have one, and not pause to focus or study the artwork that's there. That's not the fixed assets we're trying to sell.

By offering a "fully furnished" package, we can maximize each property's potential, and provide ultra-high-net-worth buyers with the instant gratification they crave. With specialty real estate — like waterfront homes, luxury homes, over-55 housing, and condos — it is even more important to position the home appropriately. Only certain kinds of buyers are interested in these kinds of homes, so a one-size-fits-all approach will not produce optimal results.



Reference:

►Real Estate Blog - Agents Corner - theagencyre.com. https://www.theagencyre.com/blog/agents-corner


►Staging's a Necessary Expense When Selling Luxury Real .... https://www.mansionglobal.com/articles/staging-s-a-necessary-expense-when-selling-luxury-real-estate-70604


►What to Know About Selling Luxury, Waterfront and Other .... https://www.inman.com/2019/07/09/what-to-know-about-selling-luxury-waterfront-and-other-specialty-properties/